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OpenAI Secures $4B Credit Line To Supercharge AI Ambitions And Expand Nvidia-Powered Infrastructure: 'Provides Flexibility To Seize Future Growth Opportunities'

After securing a whopping $6.6 billion funding round, ChatGPT-parent OpenAI has bagged a $4 billion revolving credit line.

What Happened: The new credit facility will bolster its liquidity to $10 billion, allowing the AI startup to invest in high-cost computing capacity including Nvidia Corporation’s (NASDAQ:NVDA) chips.

“This credit facility further strengthens our balance sheet and provides flexibility to seize future growth opportunities,” said OpenAI CFO Sarah Friar, in a blog on Thursday.

The credit line is facilitated by a consortium of banks: JPMorgan Chase (NYSE:JPM), Citigroup, Inc. (NYSE:C), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:

Full story available on Benzinga.com

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